The global deodorant and antiperspirant ingredients market is estimated to account for US$ 1,619 million in 2015, which is expected to increase to US$ 2,390 million by 2021, registering a CAGR of 6.7% over the forecast period.
New York, NY -- (SBWIRE) -- 01/22/2016 -- Persistence Market Research has published a new research report on the global deodorant and antiperspirant ingredients market. As per the report, the global deodorant and antiperspirant ingredients market was valued at US$1,619 mn in 2015 and is predicted to reach US$2,390 mn by 2021, progressing at a 6.70% CAGR during the period from 2015 to 2021.
Fragrances and antimicrobials used in deodorants reduce unpleasant body odor that is caused because of the growth of microbes. Antiperspirants are primarily used to minimize perspiration by using pore-blocking agents. Demand for self-grooming products, especially deodorants and antiperspirant products, is on the rise since past few years. The increasing demand for deodorants and antiperspirant products by female consumers, premium quality ingredients, attractive packaging, and designs are some of the factors responsible for the growth of the global deodorant and antiperspirant ingredients market. The global deodorant and antiperspirant ingredients market is segmented on the basis of geography, product type, and ingredients. By product type, the global deodorant and antiperspirant ingredients market is classified into aerosol, creams and wipes, sticks and solids, and roll-ons. The aerosol deodorant segment is expected to account for 75.3% of the global deodorant and antiperspirant ingredients market by 2021.
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Based on ingredient, the global deodorant and antiperspirant ingredients market is classified into alcohol, antimicrobials, aluminum, base/carrier substance, parabens and propellants, conditioner and moisturizer, and fragrances. The alcohol segment is predicted to lead the global deodorant and antiperspirant ingredients market with more than 35% of the total revenue by 2021. The increase in the per capita income of consumers across the world, especially in the developing nations, has led to the growth of the global deodorant and antiperspirant ingredients market.
In 2014, the alcohol ingredient segment was valued at US$427.0 mn and is predicted to reach US$662 mn by 2021 at a 6.50% CAGR. The rising demand for deodorant and antiperspirant products featuring long-lasting fragrance, protection, and effective antibacterial activity will drive the alcohol ingredient segment in the years to come.
Based on geography, the global deodorant and antiperspirant ingredients market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2014, in terms of revenue, the global deodorant and antiperspirant ingredients market was dominated by Europe, followed by North America. The Asia Pacific deodorant and antiperspirant market is predicted to witness steady growth in the years to come. With over 30% of the total revenue, the Europe deodorant and antiperspirant ingredients market is expected to maintain its dominant position in the coming few years.
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The growing number of daily grooming products, especially deodorants and antiperspirants, across all regions is expected to create new growth opportunities for the global deodorant and antiperspirant ingredients market. The entry of new players is expected to raise the level of competition in the global deodorant and antiperspirant ingredients market in the next five years. Some of the leading companies in the global deodorant and antiperspirant ingredients market are Unilever Company, L'Oreal Company, Shiseido, Henkel AG & Company KGaA, Godrej Consumer Products Ltd., Procter & Gamble, Avon Products Inc., CavinKare Pvt. Ltd., and Beiersdorf AG.
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